National Clearing Corporation of Pakistan Limited (NCCPL) has announced that Capital Gains Tax (CGT) for shares sold on Pakistan Stock Exchange (PSX) during October 2024 will be collected on Friday, November 29, 2024.
Clearing members – brokers or entities handling trades – must ensure that they have sufficient funds in their bank accounts on this date to cover the tax amount.
CGT is also collected for trades involving commodity futures contracts entered into on the Pakistan Mercantile Exchange (PMEX) in October.
Moreover, tax on profits earned from selling units of open-end mutual funds (mutual funds that allow investors to buy or sell units at any time) was also calculated in October. Detailed reports on these taxes are available in the NCCPL online system.
The NCCPL has warned that if the tax is not paid in full, action could be taken under its rules, which could result in penalties or other consequences. Clearing members are urged to comply to avoid problems.